I heard the news yesterday that Boeing was the biggest drag on the DOW (and they aren't doing any better today).
From this link.
"Boeing was the biggest drag on the Dow, shedding 1.9% after the aerospace giant saw its second-quarter profit fall 21% amid weaker revenue in both its aviation and defense businesses. The results beat profit expectations but missed on revenue."
Good to see that the stock is trending toward a realistic value that is less Boeing false P.R. based. Even at $67 and a few pennies, Boeing stock is more than double the price it should be considering its corrupt and incompetent management, hidden and excessive liabilities on failed programs like the 787, and the other huge liabilities Boeing will face if it is ever held to account for even a few of the ongoing frauds by its management, many of which the public and stock holders are unaware of (thanks to Boeing's "the sky is rosy" when it is actually falling on their heads P.R. lies).
Investors in Boeing stock really have nothing to complain about but their own bad decisions if they lose half or all their investment. While Boeing has carefully hidden risks to the company for as long as possible and hyped minor good news as it happens, there is ample evidence in the public domain of just how badly Boeing is managed and how often (even only being caught for a very small percentage of their frauds) they intentionally run afoul of the law in pursuit of ever greater value to cover for their incompetence. And Boeing employees who see how badly the company is run from the inside like I did every day there have even less to complain about for their losing money if they dare invest in Boeing stock.
In fact, the stock price getting down to the actual value of the company (value of plant and equipment if liquidated--about $29) would be a good thing, but it getting down to zero and staying there would be even better, for several reasons.
Only then would its current incompetent and corrupt management stop mismanaging the company for only their stock option value price, and clean their management house and actually start focusing on managing the company's business itself.
Current Boeing Management doesn't care what the company does. They could be a note paper with temporary adhesive backing manufacturer for all they care. All they care about is profits and their effect on their stock options' value.
That is one reason they are so corrupt and incompetent in running Boeing--a company with many public safety and national security critical products that urgently needs competent management that care at least as much about public safety and national security as they do about the bottom line.
Obviously, the country and Boeing airplane passengers and crew would all be much safer if the current Boeing Management were running a "note paper with temporary adhesive backing" manufacturing company rather than Boeing.
It is finally clear that Boeing Management is so corrupt and incompetent that they can't even manipulate the one number they care about at Boeing above all others--the stock price.
Sure, their corruption has no doubt padded the bottom line and made the stock price double what it should be, but it should be evident to everyone that even their level of corruption will never bring the stock price up to their personal stock option value goals--or investors goals.
Corrupt and incompetent Boeing Management is in a bad personal place right now--the only way to bring the stock price back up now from an abysmal ride to where it should be considering their mismanagement is the only legal or illegal thing they haven't yet done--replacing themselves.
The Last Inspector